Insider Selling: Allstate Corporation (The) (ALL) EVP Sells 12,288 Shares of Stock

Allstate Corporation (The) (NYSE:ALL) EVP Susan L. Lees sold 12,288 shares of the company’s stock in a transaction on Friday, August 4th. The shares were sold at an average price of $94.09, for a total value of $1,156,177.92. Following the completion of the transaction, the executive vice president now owns 73,511 shares of the company’s stock, valued at $6,916,649.99. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Shares of Allstate Corporation (NYSE:ALL) opened at 94.16 on Friday. The company has a market cap of $34.03 billion, a PE ratio of 13.91 and a beta of 1.10. The stock’s 50 day moving average price is $90.07 and its 200 day moving average price is $84.22. Allstate Corporation has a one year low of $66.55 and a one year high of $94.70.

Allstate Corporation (The) (NYSE:ALL) last issued its quarterly earnings results on Tuesday, August 1st. The insurance provider reported $1.38 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.90 by $0.48. Allstate Corporation (The) had a return on equity of 12.73% and a net margin of 7.02%. The company had revenue of $8.02 billion for the quarter, compared to analyst estimates of $7.99 billion. During the same quarter last year, the company posted $0.62 EPS. The company’s revenue for the quarter was up 2.6% compared to the same quarter last year. Equities analysts predict that Allstate Corporation will post $6.50 earnings per share for the current fiscal year.

Allstate Corporation (The) declared that its Board of Directors has initiated a stock buyback plan on Tuesday, August 1st that allows the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization allows the insurance provider to buy up to 63% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board believes its stock is undervalued.

The firm also recently declared a quarterly dividend, which will be paid on Monday, October 2nd. Stockholders of record on Thursday, August 31st will be paid a $0.37 dividend. The ex-dividend date of this dividend is Tuesday, August 29th. This represents a $1.48 annualized dividend and a dividend yield of 1.57%. Allstate Corporation (The)’s payout ratio is 21.86%.

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Several institutional investors have recently modified their holdings of the stock. Jackson Grant Investment Advisers Inc. raised its position in shares of Allstate Corporation (The) by 0.4% in the second quarter. Jackson Grant Investment Advisers Inc. now owns 1,216 shares of the insurance provider’s stock valued at $108,000 after buying an additional 5 shares during the last quarter. Parkside Financial Bank & Trust raised its position in shares of Allstate Corporation (The) by 0.3% in the second quarter. Parkside Financial Bank & Trust now owns 3,082 shares of the insurance provider’s stock valued at $273,000 after buying an additional 9 shares during the last quarter. Brighton Jones LLC raised its position in shares of Allstate Corporation (The) by 0.3% in the second quarter. Brighton Jones LLC now owns 3,313 shares of the insurance provider’s stock valued at $293,000 after buying an additional 10 shares during the last quarter. Intrust Bank NA raised its position in shares of Allstate Corporation (The) by 0.3% in the first quarter. Intrust Bank NA now owns 7,540 shares of the insurance provider’s stock valued at $615,000 after buying an additional 23 shares during the last quarter. Finally, CAPROCK Group Inc. raised its position in shares of Allstate Corporation (The) by 0.6% in the first quarter. CAPROCK Group Inc. now owns 4,567 shares of the insurance provider’s stock valued at $372,000 after buying an additional 28 shares during the last quarter. Institutional investors own 77.04% of the company’s stock.

A number of research analysts recently commented on ALL shares. Wells Fargo & Company restated a “buy” rating on shares of Allstate Corporation (The) in a research note on Saturday, June 24th. MKM Partners restated a “buy” rating and issued a $100.00 target price (up from $90.00) on shares of Allstate Corporation (The) in a research note on Thursday, May 4th. Citigroup Inc. upped their target price on Allstate Corporation (The) from $97.00 to $102.00 and gave the company a “buy” rating in a research note on Thursday, July 13th. BidaskClub lowered Allstate Corporation (The) from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, July 12th. Finally, Morgan Stanley restated an “equal weight” rating and issued a $91.00 target price (up from $85.00) on shares of Allstate Corporation (The) in a research note on Thursday, July 6th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and seven have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $89.38.

Allstate Corporation (The) Company Profile

The Allstate Corporation (Allstate) is a holding company for Allstate Insurance Company. The Company’s business is conducted principally through Allstate Insurance Company, Allstate Life Insurance Company and other subsidiaries. It is engaged in the property-liability insurance business and the life insurance, retirement and investment products business.

Insider Buying and Selling by Quarter for Allstate Corporation (The) (NYSE:ALL)

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